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Local members of the Newcastle community saw the need to meet and exceed today's academic standards and set out to accomplish that goal by establishing the Newcastle Education Foundation in 2004. NEF is a 501 (c) (3) non-profit organization whose goal is to fund programs emphasizing new approaches to teaching and the development of innovative programs, which stimulate thought and expand the existing curriculum. The Foundation also intends to promote a scholarship program as the endowment increases.

Funding of the Foundation's mission is solely through annual fund raising activities, grants, and private donations.
The Newcastle Education Foundation exists to foster excellence in education through innovation in the classroom and the empowerment of motivated teachers and administrators by providing financial assistance for grants and awards for special projects and scholarships for the benefit of the students, educators and staff of the Newcastle Public Schools.